On Tuesday, at a kickoff event at MIT attended by Martin Donnelly, the UK Permanent Secretary for the Department of Business, Innovation and Skills, the organizers of Cambridge 2 Cambridge revealed new details about the event.

The hackathon will take place on March 4 and 5. The event will begin with a 24-hour coding session at MIT’s Computer Science and Artificial Intelligence Laboratory, followed by a pitch session to judges.

The contest itself will take the form of a virtual “capture the flag” contest, Howard Shrobe, MIT professor and a faculty lead on the project told BetaBoston in January.

The winning team will take home a $70,000 prize — about 48,560 British pounds. The sponsors include Microsoft, Raytheon, Rapid7, and campus favorite Anna’s Taqueria.

CSAIL, an institution best known for research and engineering in computer science, has been dipping a toe into policy work. Besides hosting this cross-continental coding contest, the group launched a policy-focused group, the Cybersecurity and Internet Policy Initiative, in March last year.